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Australian (ASX) Gold Industry Analysis

UpdatedNov 09, 2025
DataAggregated Company Financials
Companies156
  • 7D-1.0%
  • 3M36.8%
  • 1Y75.9%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 1.0%, driven by declines in Evolution Mining and Northern Star Resources of 1.8% and 1.1%, respectively. Meanwhile, Greatland Resources actually outperformed within the industry, gaining 6.5% in the last week. This takes the industry's 12 month performance to a gain of 76%. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Nov 2025AU$138.7bAU$26.4bAU$4.6b23.9x30.2x5.3x
Tue, 07 Oct 2025AU$146.4bAU$26.4bAU$4.6b23.7x32x5.6x
Thu, 04 Sep 2025AU$120.2bAU$26.8bAU$4.9b17.9x24.8x4.5x
Sat, 02 Aug 2025AU$91.6bAU$22.4bAU$3.2b15.8x28.6x4.1x
Mon, 30 Jun 2025AU$101.3bAU$22.4bAU$3.1b16.2x32.5x4.5x
Wed, 28 May 2025AU$105.1bAU$22.3bAU$3.1b18.1x33.9x4.7x
Fri, 25 Apr 2025AU$93.6bAU$22.2bAU$3.0b19.4x31x4.2x
Sun, 23 Mar 2025AU$83.8bAU$22.2bAU$3.0b17.8x27.6x3.8x
Tue, 18 Feb 2025AU$78.0bAU$20.1bAU$2.4b20.9x32.9x3.9x
Thu, 16 Jan 2025AU$76.4bAU$18.7bAU$1.8b19.5x42x4.1x
Sat, 14 Dec 2024AU$74.6bAU$18.6bAU$1.8b22.1x41.2x4x
Mon, 11 Nov 2024AU$72.7bAU$18.4bAU$1.8b20.1x40.4x3.9x
Wed, 09 Oct 2024AU$67.8bAU$18.4bAU$1.8b20.4x37.9x3.7x
Fri, 06 Sep 2024AU$62.2bAU$18.1bAU$1.5b22.9x40.2x3.4x
Sun, 04 Aug 2024AU$61.6bAU$16.1bAU$1.1b23.3x55.6x3.8x
Tue, 02 Jul 2024AU$55.3bAU$16.0bAU$1.1b21.4x51.4x3.4x
Thu, 30 May 2024AU$59.8bAU$17.1bAU$1.2b21.1x50.4x3.5x
Sat, 27 Apr 2024AU$59.0bAU$17.2bAU$1.2b22.1x49.4x3.4x
Mon, 25 Mar 2024AU$52.8bAU$16.9bAU$1.2b17.7x42.9x3.1x
Wed, 21 Feb 2024AU$48.5bAU$15.6bAU$273.7m22.3x177x3.1x
Fri, 19 Jan 2024AU$71.0bAU$22.9bAU$1.3b22.7x52.7x3.1x
Sun, 17 Dec 2023AU$75.4bAU$22.9bAU$1.3b24.6x56x3.3x
Tue, 14 Nov 2023AU$70.4bAU$22.9bAU$1.4b21.3x52x3.1x
Thu, 12 Oct 2023AU$69.1bAU$22.9bAU$1.4b21.5x51.1x3x
Sat, 09 Sep 2023AU$68.3bAU$22.9bAU$1.4b18.9x48.6x3x
Mon, 07 Aug 2023AU$68.8bAU$22.4bAU$568.1m17.1x121.1x3.1x
Wed, 05 Jul 2023AU$71.8bAU$22.3bAU$554.6m17.6x129.5x3.2x
Fri, 02 Jun 2023AU$71.2bAU$22.5bAU$606.2m17.5x117.4x3.2x
Sun, 30 Apr 2023AU$75.8bAU$22.4bAU$585.2m19.3x129.5x3.4x
Tue, 28 Mar 2023AU$68.2bAU$22.3bAU$583.5m15.5x116.9x3.1x
Thu, 23 Feb 2023AU$61.5bAU$21.9bAU$486.8m18.7x126.3x2.8x
Sat, 21 Jan 2023AU$68.9bAU$20.8bAU$1.2b19.4x59.9x3.3x
Mon, 19 Dec 2022AU$60.1bAU$21.0bAU$1.2b17.4x50.5x2.9x
Wed, 16 Nov 2022AU$58.6bAU$21.0bAU$1.2b15.2x48.7x2.8x
Price to Earnings Ratio

48.7x


Total Market Cap: AU$58.6bTotal Earnings: AU$1.2bTotal Revenue: AU$21.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 63.5x202320242025
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 30.2x which is lower than its 3-year average PE of 63.5x.
  • The 3-year average PS ratio of 3.6x is lower than the industry's current PS ratio of 5.3x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 56% per year over the last three years.
  • Revenues for these companies have grown 7.9% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market-1.67%
Materials-3.80%
Metals and Mining-3.45%
Gold-1.01%
Silver-1.17%
Diversified Metals and Mining-4.10%
Copper-4.34%
Steel-4.75%
Precious Metals and Minerals-5.40%
Aluminum-5.41%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
GGP Greatland ResourcesAU$7.596.5%
+AU$308.5m		n/aPE15.1x
EMR Emerald ResourcesAU$5.148.4%
+AU$264.0m		33.5%PE38.7x
WGX Westgold ResourcesAU$5.503.4%
+AU$170.1m		89.7%PE149.5x
RMS Ramelius ResourcesAU$3.402.4%
+AU$154.0m		57.4%PE13.8x
CMM Capricorn MetalsAU$13.112.0%
+AU$112.2m		110.4%PE37.7x

Latest News

RSG
AU$0.86
Resolute Mining
7D
-9.4%
1Y
29.1%

RSG: Future Production Increases Will Drive Improved Earnings And Value

Analysts have slightly lowered their price target for Resolute Mining to 64 GBp from 65 GBp. They cited incremental adjustments to discount rates and earnings forecasts as contributing factors to the change. Analyst Commentary Recent analyst updates regarding Resolute Mining reflect a balanced outlook, highlighting both positives and potential challenges impacting the company’s valuation and future growth.
CYL
AU$7.03
Catalyst Metals
7D
3.5%
1Y
129.0%

Shareholders May Not Be So Generous With Catalyst Metals Limited's (ASX:CYL) CEO Compensation And Here's Why

Nov 06
Shareholders May Not Be So Generous With Catalyst Metals Limited's (ASX:CYL) CEO Compensation And Here's Why
EMR
AU$5.14
Emerald Resources
7D
8.4%
1Y
33.5%
FFM
AU$1.62
FireFly Metals
7D
-14.7%
1Y
32.2%
WGX
AU$5.50
Westgold Resources
7D
3.4%
1Y
89.7%

WGX: Share Buyback And New Exploration Spend Will Drive Shareholder Returns

Analysts have increased their price target for Westgold Resources from $6.51 to $6.83. This change is due to improved profit margin forecasts and a slight acceleration in expected revenue growth.
GGP
AU$7.59
Greatland Resources
7D
6.5%
1Y
n/a
RMS
AU$3.40
Ramelius Resources
7D
2.4%
1Y
57.4%

RMS: Rising Gold Prices Will Sustain Momentum Despite Output Concerns

Analysts have increased their average price target for Ramelius Resources from A$4.14 to A$4.22, citing improved gold price forecasts despite some concerns over near-term production and valuation stretch. Analyst Commentary Analyst sentiment for Ramelius Resources is mixed, reflecting both optimism tied to gold price trends and caution regarding the company's production outlook and valuation.
NST
AU$24.34
Northern Star Resources
7D
-1.1%
1Y
45.0%

NST: Gold Price Strength And Stake Sale Will Shape Earnings Outlook

Analysts have raised their price target for Northern Star Resources by A$4 to A$22. This reflects increased confidence in the company’s fair value amid forecasts of stronger gold prices and improved financial performance.
CMM
AU$13.11
Capricorn Metals
7D
2.0%
1Y
110.4%
VAU
AU$0.71
Vault Minerals
7D
-2.1%
1Y
101.4%
KCN
AU$4.35
Kingsgate Consolidated
7D
11.0%
1Y
210.7%
PNR
AU$4.85
Pantoro Gold
7D
-5.3%
1Y
159.4%
OBM
AU$1.14
Ora Banda Mining
7D
-6.2%
1Y
34.3%
EVN
AU$10.66
Evolution Mining
7D
-1.8%
1Y
118.4%

Rising Gold Prices And Margins Will Increase Confidence Despite Market Uncertainty

Analysts have raised their price target for Evolution Mining from A$8.72 to A$9.93. They cite stronger gold prices, improved revenue growth forecasts, and higher expected profit margins as key drivers behind the update.
DTR
AU$0.25
Dateline Resources
7D
-12.3%
1Y
6,150.0%
SMI
AU$0.82
Santana Minerals
7D
10.0%
1Y
27.9%